Arena Pharmaceuticals (NASDAQ:ARNA) has been under a strong bear grip, hence the stock is down -15.93% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.11% in the past 1 week. The stock has risen by 2.41% in the past week indicating that the buyers are active at lower levels, but the stock is down -14.57% in the past 4 weeks.
The company shares have dropped -61.28% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $5.12 and the one year low was seen on Jan 11, 2016. The 50-Day Moving Average price is $1.80 and the 200 Day Moving Average price is recorded at $1.71.
The stock has recorded a 20-day Moving Average of 6.46% and the 50-Day Moving Average is 2.16%.
Arena Pharmaceuticals (NASDAQ:ARNA): stock turned positive on Friday. Though the stock opened at $1.65, the bulls momentum made the stock top out at $1.7 level for the day. The stock recorded a low of $1.62 and closed the trading day at $1.7, in the green by 3.66%. The total traded volume for the day was 2,297,565. The stock had closed at $1.64 in the previous days trading.
In an insider trading activity, The Securities and Exchange Commission has divulged that White Christine Anna, director of Arena Pharmaceuticals Inc, had unloaded 18,728 shares at an average price of $1.99 in a transaction dated on June 13, 2016. The total value of the transaction was worth $37,269.
Arena Pharmaceuticals, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing drugs that target G protein-coupled receptors (GPCRs). The Companys drug, BELVIQ (lorcaserin HCl), was approved by the United States Food and Drug Administration for marketing in the United States. In addition to BELVIQ, the Company has other drug candidates and compounds at various stages of research and development. The Company is exploring lorcaserins once-a-day, extended release formulation, as an aid to smoking cessation, in combination with phentermine and other agents for weight management, and for other possible indications. The Companys other drug candidates include ralinepag for vascular diseases, APD334 for autoimmune diseases, APD371 for pain and fibrotic diseases, and temanogrel for thrombotic diseases.